Prize Bonds (Amendment) Regulations 2014

• Jurisdiction: Ireland
• Citation: IR SI 136/2014
• Year: 2014

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 18th March, 2014.

The National Treasury Management Agency, in exercise of the powers conferred upon it by the National Treasury Management Agency Act 1990 (No. 18 of 1990) and the National Treasury Management Agency Act 1990 (Delegation of and Declaration as to Functions) Order 1990 ( S.I. No. 277 of 1990 ), hereby makes the following Regulations:

1. In these Regulations “the Prize Bonds Regulations” means the Prize Bonds Regulations 1993 to 2008 ( S.I. No. 337 of 1993 , as amended by S.I. No. 431 of 1997 , S.I. No. 582 of 2004 , S.I. No. 233 of 2005 and S.I. No. 13 of 2008 ).

2. The Prize Bonds Regulations are hereby amended—

(a) in Regulation 2, by substituting the following definition for the definition of “the Operator”:

“ “the Operator” means such person as NTMA may designate from time to time”;

(b) in Regulation 8, by substituting the following for Regulation 8:

“8. A draw shall be held, at a minimum, in respect of each week of a calendar year, at weekly intervals or at such other intervals as may be approved by NTMA from time to time. NTMA shall also have the right (in its absolute discretion) to direct the holding of additional draws at any time. All draws shall be:

(a) held in the presence of a representative of NTMA at such premises; and

(b) conducted by such officers of the Operator,

as may be designated by the Operator with the approval of NTMA.”

(c) in Regulation 10, by substituting the following for Regulation 10:

“10.(1) The following provisions shall have effect in relation to the conduct of a draw:

(a) there shall be a computer-based...